AutoNation, Sonic Warn of Financial Impact From CDK Hack – Bloomberg

Some of the largest auto dealers in North America are warning of a potential “material” impact to their finances from a cyberattack that has slowed operations at thousands of stores.

Sonic Automotive Inc. and Penske Automotive Group Inc. filed disclosures with the US Securities and Exchange Commission on Friday. Group 1 Automotive Inc., AutoNation Inc., Lithia Motors Inc. and Asbury Automotive Group Inc. followed Monday. All six companies use CDK Global, whose so-called dealership management system was halted a week ago after a crippling hack.

The disclosures represent the first sign of potential widespread economic impact stemming from the attack against CDK, which serves roughly 15,000 North American car dealerships….

Source: AutoNation, Sonic Warn of Financial Impact From CDK Hack (SAH, PAG, GPI, AN) – Bloomberg